What is Bitcoin?
A type of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.
How I can make money from Bitcoin?
You can make money by
- Arbitrage: You can buy it on one Exchange at low price sell it on another where price is high. If you are in India you can use to compare prices at all Bitcoin exchanges in India.
- Trade: Just hold the Bitcoins for few years, once you think its price might fall in a large amount, sell it. Once you realised that its price going to rise again in great extent, buy it again.
- Trade/Invest in other Cryptocurrency: You can transfer Bitcoins to your Trading accounts like Poloniex, Kraken, etc. and you can trade other virtual currencies. Here also you have to apply the same concept if you find that a currency will give you great returns in next few days or months or years, but it and holds it. Once your target it completes sell it.